Business Exit Planning, with Michelle Seiler Tucker
Business exit planning\u2014Learn how to use extra money to create passive income and financial freedom in\xa0business exit planning.
Failure to prepare for your eventual exit from your company is a common mistake. This poor planning makes it much more difficult to sell your business when you\u2019re ready to leave, and it has a negative impact on the value of your company when you do eventually sell.\xa0
In this episode of Onward Nation, business buying, growing, fixing and selling authority Michelle Seiler Tucker shares tips, strategies and actionable steps to help you prepare your\xa0business exit planning\xa0that will add value to your company now and get it ready for sale in the future.
What you\u2019ll learn in this episode is about\xa0business exit planning:\xa0- How Michelle\u2019s ability to close deals led her to become regional vice president at Xerox after just six months at the company
- Why 70% of businesses that have been operating for 10 years or longer will go out of business because they haven\u2019t adapted to how consumers buy products and services today
- How Michelle dipped her toe into working in franchise development while still working at Xerox, and how she sold 100 franchises in six months
- How Michelle transitioned her expertise from selling franchises to selling businesses and helping owners develop a\xa0business exit planning
- Why many established businesses aren\u2019t salable because they are too dependent upon the business owner
- What common mistakes do business owners make that can end up hurting their company\u2019s value or salability down the road
- Why preparing your business for sale requires you to ensure that six P\u2019s are in place: people, product, processes, proprietary, patrons, and profits
- What important lessons can be learned from explosive brands like Amazon, McDonald\u2019s, and Apple that can be applied to businesses of any industry and size?
- What surprising systems, relationships, and other assets add value to your company and make it more attractive to potential buyers
- Why profits are never the problem hurting your company\u2019s value but are a symptom of the real problems
- Learn more about\xa0business exit planning, and you can find Michelle here
- Elevate your ideas about\xa0business exit planning\xa0by tuning in to this podcast from Michelle: Exit Rich
- LinkedIn:\xa0www.linkedin.com/in/michelleseiler/
- Facebook:\xa0www.facebook.com/michele.seilertucker
- Twitter:\xa0@MSeilerTucker
- Sell With Authority by Drew McLellan and Stephen Woessner:\xa0https://amzn.to/39y7x13
- Predictive ROI Free Resource Library:\xa0https://predictiveroi.com/resources/
- Stephen Woessner\u2019s LinkedIn:\xa0www.linkedin.com/in/stephenwoessner/